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# IB IDEAL PRO Trade USDJPY, need HELP!

Discussion in 'Forex Trading' started by Digs, Feb 13, 2006.

1. ### Digs

I tried to trade USDJPY today

First trade via IDEAL PRP for this cross

rate 117.75

I wanted to buy 4000 QTY via TWS it said may trade was under \$25000 mimimum order...

How 25000/117.75 = 212 minimum order, I thought

4000 USDJY margin is 30:1 so needs \$16k in my account..

What have I got wrong...

I thought...

1 USD = 117.75 JPY

Therefore buying USDJPY 4000 equals \$471000 USD @ rate of 117.75

Well, your order as placed was to buy 4000 USD. If you want to buy 471K USD, put in an order to buy 471k....

3. ### Digs

So hows the margin calculated...

when its 30:1 how much do I need in my account to buy \$471k

4. ### JayS

Actually 4000 = \$4000 or 471,000 YEN

5. ### JayS

They moved it down to 2% today I think, so \$471,000 * .02 = \$9,420

(if 30:1 then .0333 * 471,000 = \$15,699)

6. ### Digs

Thats margin in YEN , not margin in USD is it not,,,

SO the QTY you load into TWS is always USD...

7. ### Digs

Ok I am stuck

SAY I BUY USDJPY at 117.75

And my max loss of USD dollars is to be only \$10,000 usd to my account

And my stop loss was to be placed at 117.00

Question : How much YEN can I buy ? Or what the f**k do I load into TWS in the QTY screen....

8. ### JayS

What you enter is dollars, say \$500,000 at 117.75 that equals 58,875,000 YEN. The margin will be 2% of \$500,000 or \$10,000, make sense?